CoreWeave Surges 20% After Q3 Earnings. What Comes Next for CRWV Stock.

CoreWeave (CRWV) stock is ripping higher on Wednesday after the artificial intelligence (AI) infrastructure giant reported another blockbuster quarter.

The company said revenue came in up a better-than-expected 168%, and it ended the quarter with a massive $132.5 billion backlog. Management raised the full-year guidance as well to at least $13 billion.

Despite the post-earnings surge, CoreWeave shares are trading down more than 13% in 2026 and are more than 50% off their YTD high. 

CRWV Shares Have More Room to the Upside

A quick look at Barchart’s options data suggests the recent momentum in CRWV shares are more likely to be a launching pad than a top.

Investors are increasingly betting on the bullish call options expiring than the bearish put options, with the put-to-call ratio on contracts expiring Nov. 20 set at 0.63 as of writing. 

And the upper price on those options contracts sits at nearly $67 currently, indicating potential for another 10% rally from here. 

Note that the post-earnings rally also helped CoreWeave break decisively above its 20-day moving average (MA) today, indicating bulls have taken back control of the near term. 

Wall Street Reiterates Bullish Views on CoreWeave Stock

Deutsche Bank analyst Brad Zelnick maintains CoreWeave stock at “Buy” following the quarterly print, with a $125 price target indicating massive upside potential. 

The company “continued to build its track record of consistent execution in an environment where less experienced AI Cloud providers are experiencing growing pains as they begin to scale” he told clients.

According to Zelnick, the strong demand environment will see CRWV more than double EBITDA (excluding interest expense) on a year-over-year basis in CY27. He also now expects the Nasdaq-listed firm to be profitable on a non-GAAP basis a year later. 

Note that other Wall Street banks, including Citi, JPMorgan, UBS, and Bank of America reiterated their positive stances on CoreWeave as well on Nov. 11.

How High Could CRWV Fly in 2027?

The consensus “Moderate Buy” rating on CRWV stock suggests analysts remain fully convinced that it’s not out of steam just yet.

The mean price target for CoreWeave Inc currently sits at nearly $123, indicating potential for a 2x rally from current levels. 

On the date of publication, Wajeeh Khan did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.